FFA Farm and Ranch Management
questions well answered
Which crop produces the most revenue for Nebraska farmers each year? - correct answer
✔✔Corn
What is another name for a profit and loss statement? - correct answer ✔✔Income Statement
On a Balance sheet, what must balance? - correct answer ✔✔Assets and the total of liabilities
and owners equity
In Nebraska, during which season is corn typically harvested? - correct answer ✔✔Fall
When should accounting transactions be recorded when using a cash accounting system? -
correct answer ✔✔Whenever cash is exchanged
In accounting, what does the "matching principle" try to match? - correct answer ✔✔Revenue
and expenses
A farmer uses accrual accounting. At the end of the year he or she makes and entry to reflect
the use of fertilizer purchased in a different accounting period. What type of entry is this? -
correct answer ✔✔Adjusting Entry
How many acres are in one square mile? - correct answer ✔✔640
What does "cwt" mean? - correct answer ✔✔Hundred Weight
questions well answered
Which crop produces the most revenue for Nebraska farmers each year? - correct answer
✔✔Corn
What is another name for a profit and loss statement? - correct answer ✔✔Income Statement
On a Balance sheet, what must balance? - correct answer ✔✔Assets and the total of liabilities
and owners equity
In Nebraska, during which season is corn typically harvested? - correct answer ✔✔Fall
When should accounting transactions be recorded when using a cash accounting system? -
correct answer ✔✔Whenever cash is exchanged
In accounting, what does the "matching principle" try to match? - correct answer ✔✔Revenue
and expenses
A farmer uses accrual accounting. At the end of the year he or she makes and entry to reflect
the use of fertilizer purchased in a different accounting period. What type of entry is this? -
correct answer ✔✔Adjusting Entry
How many acres are in one square mile? - correct answer ✔✔640
What does "cwt" mean? - correct answer ✔✔Hundred Weight
